MoviePass Admits It Lost Track of How Many Subscribers It Has

MoviePass’s parent company hit another bump Tuesday, acknowledging it lost track of how many paying customers the film-subscription service had on its books.

Helios & Matheson Analytics Inc. said in a filing that it incorrectly recognized about $5.9 million in revenue from subscriptions that had been suspended. A further error totaling $700,000 came from recognition of revenue from subscriptions through Costco Wholesale Corp. that had been terminated through refunds.